Regional Integration, the key to facing the crisis

The International Monetary Fund urged Central America to unite to deal with the crisis.

Friday, November 14, 2008

IMF representatives present their report, "Central America: economy, progress and reforms," in Washington D.C. on Thursday, in a dialogue in which experts analyze the impact of the global economic crisis on the Isthmus' financial systems.

The IMF has kept its growth projects for the region through 2009 at around 3%.

More on this topic

Businessmen press for Panama's integration into SIECA

November 2008

The Federation of Chambers of Commerce on the Central American Isthmus (FECAMCO) urged the governments of CA to carry out concrete negotiations for the integration of Panama into SIECA.

The president of the entity, Costa Rican Carlos Federspiel, said to Acan-Efe that in the face of the financial crisis that started in the US "it is necessary to strengthen intra-Central American trade and for Panama to be integrated into the economic system of the region and other agreements such as the Agreement of Association with the EU."

Central America: External Vulnerabilities in Focus

October 2008

This special report examines the channels through which Fitch-rated sovereigns in this sub-region could be impacted by external shocks, the robustness of their various policy frameworks and the implications for creditworthiness of increasingly challenging international conditions.

The US financial crisis has spread across the international financial system.

IMF: Worst yet to come

October 2008

The International Monetary Fund (IMF) supports rescue plans but warns that the banks will have greater losses.

The IMF warned that losses related to loans in the US and financial assets linked to these could reach $1.4 trillion.
In a report published on Tuesday, the IMF says that it will be necessary to invest more public resources in order to guarantee a return to financial stability.

The Lehman effect on Honduras

September 2008

"The global financial crisis has cause the main investment bank in the US to go bankrupt and will produce an strong impact on the Honduras' weak economy.

"Economic growth will stop, limiting access to credit and as a result the upward trend of interest rates will continue," the ex-president of the Central Bank of Honduras, Maria Elena Mondragon, warned.

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